Canary Islands free-market home prices jump 11.6% in Q2

The trend across the islands and the rest of the country remains soaring, creating many problems in accessing housing, especially for young people.

The price of homes sold on the open market increased 11.6% in the Canary Islands in the second quarter compared with the same month a year earlier, according to the Housing Price Index (IPV) released by the National Statistics Institute (INE) on Friday.

Nationally, housing prices jumped 12.7% in the second half of the year relative to the same period in 2024, marking the strongest year‑on‑year rise since the series began in the first quarter of 2007, when prices rose 13.1%.

With the second‑quarter increase—half a percentage point higher than the rise recorded in the first three months of the year—the open‑market price has now logged 45 consecutive quarters of year‑on‑year gains.

According to the statistics office, the price of new homes rose 12.1% year‑on‑year in Q2, a tenth of a point less than the previous quarter, while the price of second‑hand homes surged 12.8%, a half‑point above the prior quarter and the highest increase in 18 years (since Q1 2007).

All autonomous communities and the two autonomous cities posted positive year‑on‑year growth for open‑market housing prices in Q2, and every region recorded double‑digit increases.

• Largest price jumps: Murcia (+14.6%); Aragón and La Rioja (+13.7%); Castile and León and Andalusia (+13.6%); Asturias (+13.5%).
• More moderate rises: Cantabria (+10.8%); Castile‑La Mancha (+11.3%); Canary Islands and Catalonia (+11.6%); Balearic Islands (+11.7%).

Housing Prices Up 4% Quarter‑on‑Quarter – Highest Rise in a Decade

On a quarterly basis (Q2 versus Q1), the open‑market price climbed 4%, half a point above the previous quarter and the strongest quarterly gain since Q2 2015, when the increase was 4.2%.

The rise recorded between April and June marks the sixth consecutive quarter of price gains.

• New homes: price up 2.6% quarter‑on‑quarter, down from a 5.5% rise in the previous quarter.
• Second‑hand homes: price up 4.2% quarter‑on‑quarter, a full point higher than the prior quarter and the highest quarterly increase since Q2 2015, when the rise was 4.6%.